Nike Inc. insiders are putting their personal money at risk in a move that typically shows they have confidence in the future of the company and the direction it is headed.
Nike’s president and chief executive officer Elliott Hill on Monday spent $1 million to acquire 16,388 shares of the company’s Class B Common stock at $61.10 per share, according to a regulatory filing — a Form 4 — with the Securities and Exchange Commission (SEC) on Tuesday. The acquisition appears to represent his first purchase of Nike stock since becoming CEO, according to Guggenheim analyst Simeon Siegel.
He’s not the only Nike insider buying the firm’s common stock. Apple Inc. CEO and Nike director Tim Cook on Dec. 22 purchased 50,000 shares at $58.97, spending nearly $2.95 million in the process. And Andreessen Horowitz’s growth investing team operating partner and Nike director Robert Swan acquired 8,691 shares at $57.54, also on Dec. 22, at a total cost of $500,080.
“Whether intended as investment or signal, it is encouraging to see management and the board putting their money where their mouth is,” the analyst said.
Hill took on the role of president and CEO in October 2024. Early indications when the Swoosh posted third quarter results in March 2025 were that his “Win Now” strategy — developed December 2024 — was showing some green shoots. In subsequent quarters, those green shoots appeared to continue to see growth. By June 2025, when Nike reported fourth quarter results, Hill said he expected business results to improve.
And when Nike reported first quarter earnings results in September, it was clear that Nike Running is back on the upswing and that the brand’s running rivals might have something to worry about. The early perception of a comeback was Nike’s introduction of new products, among them a revamped Vomero line that saw Vomero 18, launched at the end of February 2025, surpass $100 million in sales. Those sales also garnered positive support from some specialty retailers.
Hill also said in September that the company realigned 8,000 of its employees to Sport Offense, a new initiative that aligns its three brands — Nike, Jordan and Converse — “into more nimble-focused teams by sport.” It’s another layer in the “Win Now” initiative that allows each brand to craft its own identity that best suits the different consumers that they each serve. That was evident when the sportswear and athletic shoe brand last fall reconfigured its Fifth Avenue flagship store at 52nd Street, showcasing its “House of Innovation” concept with a sport-focused makeover.
Other changes came last month when the senior leadership team was rejiggered, moves that Hill said in an open letter to staff that spoke about giving “sales and Nike Direct an even stronger voice in how we set strategy and invest,” as well as removing some “layers” so Nike can be “closer to athletes and the marketplace.”
On the way out is Craig Williams, the former president of the Jordan Brand, whose executive vice president and chief commercial officer role was eliminated. Williams will stay on as a non-executive employee through April 6, 2026. Also out is chief technology officer Dr. Muge Dogan. Technology now falls under the leadership of Venkatesh Alagirisamy, who was chief supply office and became chief operating office on Dec. 8. He reports to Hill. In addition, the leaders of Nike’s four geographies are now part of the senior leadership team that reports to Hill, while Nike’s executive vice president and CFO Matt Friend took on oversight of Swoosh’s global sale and Nike Direct teams.
And while second quarter results last month were better than Wall Street’s consensus, it showed there’s more work to be done at its Converse brand and Greater China operations. That’s not necessarily a worry for Wall Street, as many analysts have noted that the two areas Nike focused on first — running and North America — continue to show progress. They recognize that a turnaround is underway, even if more time — and a heavier lift — is needed to fix the Greater China and Converse businesses.
Siegel said there’s progress in the turnaround playbook, one that echos similar challenges in the sportswear brand’s 2015 to 2018 run-in with competitor Adidas. And he said that while sales in Greater China missed Wall Street’s expectations, due in part to higher obsolescence reserves, the company’s quarterly report filed with the SEC showed that the region saw a flat ASP (average selling price) for footwear and a “+6 percent” for apparel, citing lower markdowns across both. Siegel said that suggested perhaps a “healthier quarter than otherwise observed” due to the reserve.
